HOL to cease trading on ASE on 28 May 2015

18 May 2015

Greek broadband operator Hellas Online (HOL), which was recently acquired by UK-backed Vodafone, is set to cease trading on the Athens Stock Exchange (ASE) on 28 May 2015, following approval from the Capital Market Commission, which agreed with Vodafone’s request to ‘squeeze out’ all of the company’s remaining minority shareholders. Vodafone will pay EUR0.563 (USD0.644) per share, with payment due to be made within three working days of HOL’s liquidation.

TeleGeography’s GlobalComms Database notes that in November 2014 Vodafone completed its acquisition of a 72.7% stake in HOL for a total cost of EUR72.7 million (USD90.4 million), increasing its total share capital to 91.2% in the process. Last month the operator secured an additional 8.34% stake in HOL, to raise its total ownership to 99.53%.

Greece, Hellas Online (HOL), Vodafone Group